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to the economy? i will talk to two former top presidential advisers and sea if they think we can avoid the fiscal cliff. how to stay safe and find the right sectors in the mark and jamie dienl of jpmorgan chase. regulation, policy and too big to fail. the "wall street journal report" begins right now. >> here's a look at what is making news as we head to a new week on wall street. if if toward thought they would get a bounce after the election, they thought wrong. president obama's second term victory was greeted with stocks worst day of the year. the dow fell 300 points on wednesday and triple-digits on thursday and and the markets were mixed on friday. bond rating agency moody's reiterated the possibility of a downgrade if america goes over the fiscal cliff but said it would wa wait after budget negotiations. a downgrade will make it more expensive for the united states to borrow money. >>> superstorm sandy would provide an economic boost to the auto industry. 250,000 new and used cars may have been ruined by sandy. a loss that could eventually lead to a spike in auto sales. overall consumer bo
mean for the economy? i'll talk to advisers and find out if they think we can avoid the fiscal cliff. and how to position your investments, stay safe and find the right sectors in the market. >>> and outspoken banker jamie dimon of jpmorgan chase. too big to fail. "the wall street journal report" begins right now. >> this is america's number-one financial news program. "the wall street journal report." now, maria bartiromo. >> here's what's making news as we head into a new week on wall street. if investors thought we would be getting a certainty bounce after the election, they thought wrong. in fact, president obama's second-term victory was greeted with stocks second worst day of the year. triple digits again thursday, and figures were mixed thursday. the possibility of a u.s. downgrade if america goes over the so-called fiscal cliff. but said it would wait until after budget negotiations. a downgrade, of course, would make it more expensive for the united states to borrow money. >>> superstorm sandy could provide an economic boost to the auto industry. as many as 250,000 new and u
the economy into a recession. and late today, a top credit rating agency puts the odds of going off the cliff at 15%. plus, how g.o.p. economic policies could change as election day demographics change. that and more tonight on nbr! the u.s. economy would be driven into recession next year if the fiscal cliff is not solved in time. that's the warning again today from the congressional budget office. and the standard and poor's ratings agency said there's an increasing chance we will go over that cliff of tax increases and spending cuts. it puts the odds at 15%. still, s&p is optimistic about a solution, saying "the most likely scenario, in our view, is that policymakers reach sufficient political compromise in time to avoid most, if not all, potential economic effects of the cliff." both s&p and the congressional budget office warned unemployment would go over 9% by the end of next year if the cliff is triggered. those s&p comments hit the market in the last 30 minutes of trading, extending yesterday's sharp losses. the dow closed down 121 points, the nasdaq lost 41, and the s&p was off 17. t
as the chinese economy shows signs of improve. >>> and we'll head out to washington for a view on how the handover of power in china will impact relations in the u.s. >> we're in london to talk about shipping trends. >>> plus what will obama do about the looming fiscal cliff? we'll have plenty of analysis from commentators. >> and we'll hear first from the cfo of aliance. but first day two data suggested growth is picking up and inflation is moderating meaning beijing may have more scope to ease if necessary. ppi industrial output and retail sales all came in better than forecast. eunice joins us from beijing. i'd hate to suggest this is quite good timing for this data. very convenient. >> what are you suggesting? a lot of people are saying that the numbers are showing the economy is bottoming out and a lot of people do use the numbers as a guideline at least. they're saying the investment figures were encouraging. looking relatively strong. the government hasn't put up of much money in the infrastructure projects, so that's part of the equation here. other part is retail and consumpt
ministers to say the economy may already be in recession. one step forward, two steps back. greek lawmakers approve 2013 budget, but germany warns brussels aren't likely to sign off on the next tranche of aid at their meeting today. lorenzo tells cnbc greece needs more time and he's urged europe to extend the company's debt maturities. plus president obama will get a lot of input this week from civic leaders on how to tackle the looming fiscal cliff before he sits down with house and senate leaders on friday. we're up and running for a fresh week of global business news. we'll hear from kelly fairly shortly. also on today's program, we'll be in brussels ahead of the important euro group meeting. focus there on greece and the eu budget. after the weekend, talks collapsed. and the annual world energy outlook report in an hour and plus analysis of where oil prices can be headed. and best buy gets set to join the tablet wars with it insignia flex. what can it offer to customers that the ipad, kindle 5 and surface can't. the first japanese government may be forcesed to lower its outlook for the
about the u.s. economy. >> you're watching "worldwide exchange," bringing you business news from around the globe. >>> hello. welcome to today's "worldwide exchange". >> 40 unions in 23 countries. that's the strikes that are planned across europe today. so if you thought there couldn't be any coordination, there is coordination. >> how are we going to be affected? >> you know, air travel, surprisingly, they have had to have a lot of cancelling due to strikes. >> we're fully at our jobs. there's two hours of it today. let's remind you exactly what's coming up. we'll have updates from beijing throughout the program as the new generation takes the first step towards leadership. >> and we're in london. talk to the ceo of wpp, martin sorrel. >> we discuss japanese banks. >> and the latest on cisco from silicon valley as the network equipment maker warns of slowing growth this quarter and some falling demand in europe. >> more than 2,000 delegates have cast their votes for china's new central committee, marking the end of the week long communist party. the world will have to wait one more day
-a-decade leadership change just as the chinese economy faces pressure from outside and in. >> susie: and the fiscal cliff isn't the only uncertainty for c.e.o.s. the future of financial regulations with the c.e.o. of florida-based bank united. >> tom: that and more tonight on nbr! $4.5 billion and guilty pleas to charges of manslaughter and lying to congress. that was the admission today from b.p. two and a half years after the "deepwater horizon" disaster in the gulf of mexico. that disaster killed 11 people and led to the worst oil spill in u.s. history. in its guilty plea, b.p. said it deeply regrets the loss of life and almost five million barrels of oil that into the gulf. darren gersh reports. >> reporter: justice department officials hope today's settlement and criminal pleas will bring justice to the families of the men who died when the "deepwater horizon" exploded. >> perhaps the greatest tragedy is that the deaths of the 11 men on board the "deepwater horizon" could have been avoided. the explosion of the rig was a disaster that r'sb.tetu cp.f ul b.p.'s culture of privileging profit over
as the economy begins to level of a lot of procedures that haven't happened that would have been delayed will have a whole lot more coming into the market. so near-term, uncertainty is a little bit of a concern but longer-term with demographics we think it is an excellent way and we invest longer than the end of the year. it is that three to five your time period and when you have a situation where stocks are found but macro headlines make investors run for the exit for temporary period we find that to be a great buying opportunity. liz: good to see you both. thank you. call it a change of heart. former governor tim pawlenty have gone from bashing banks to working for them as the ceo of financial services round table. why the change of heart? the second president obama term. tim pawlenty joining us exclusively. dave: america voted for the status quo on capitol hill but did one party actually gain the upper hand. live in washington with a story that could surprise you. liz: one wire co. facing a lawsuit for overstating the fuel economy for their vehicles. is this car in your list or your
. the president did not get a mandate on the economy. it is like me saying my wife married me for my height and athletic prowess. it is not true. you have a mandate on fixing immigration, putting supreme court justice. congress does not have a mandate either. stop negotiating the press and stop talking, start negotiating, while the market to just digest and trade under normal environment. we may not see a lot of volatility, that is not such a horrible thing in the market not selling off 20 handles anytime anybody opens their mouth. what we don't need is more talk. just the way it is. liz: mark sebastian did not even drink red bull today, the traders are so anxious and tired of seeing their ability to trade on real fundamentals, isn't that correct? the news they have made the market look so much higher. >> there's a lot of positive news. housing market, it was not that bad. i think fundamentally if we get a deal done i agree, we are going right to 1500. i was actually surprised the big fiscal cliff caught us by surprise so bad. liz: we want to bring in the very people talking about that, sun
. tom will be along later in the program. congress officially gets back to preventing the u.s. economy from falling off the fiscal cliff. while washington struggles on a fiscal cliff deal, what should you do about your portfolio? jeff applegate has some answers. he's chief investment officer at morgan stanley smith barney. and home depot hammers home strong gains and lays the foundation for a strong quarter ahead. that and more tonight on "n.b.r." it was another day of cliff- watching here on wall street today. investors and traders are waiting to hear what happens at an important white house meeting on friday between president obama and congressional leaders. they will be talking about ways to solve the so-called "fiscal cliff" dilemma. investors appear cautious about making any big moves until they know whether the cliff will trigger increases in capital gains and dividend taxes. the dow fell almost 59 points, the nasdaq lost 20, and the s&p was down five. meanwhile, in washington, congress returned to work for the first time since september. lawmakers face a long "to-do list," and g
westgate in london on all of that. japan's economy shrank, first contraction since last year. the data adding to signs of slowing global growth and tensions with china nudging the which i into recession. and yen minute's main oil export pipeline shut after it was blown up in two pieces. local news organizations didn't identify the attackers, but they've been repeatedly sabotaged. finally, iran launched a military drill across half of the country today. government warning it would act again against aggressors. >> where is your jacket? >> i decided in high spirit of rising above to take it off today. but i can't find my pin. >> i'm putting mine on right now. >> it's you saunderstood we're above. p. >> and you're about to talk about corporation news we haven't especially touched on petraeus. maybe we'll sneak that in. >>> htc announcing a global patent settlement and ten year licensing agreement. the deal sends one of the first major conflict of the smartphone patent wars. apple sued accusing the company of infringing on its technology. and citigroup will pay 15.5 million each to former c
of the communist party. we'll be in frankfurt for a look at how that economy has been affected. gdp showing a slowdown for germany in the third quarter. and we'll hear from the former head of the council of economic advisers austan goolsbee on how the u.s. can avoid falling off the fiscal cliff. plus we'll take you live to tokyo with japan hit by election fever. the yen is falling as a repeated call for bold monetary easing. and we'll be live in new york 5:45 a.m. for a look at the u.s. retail sector. walmart and target getting set to release third quarter numbers. >>> chig that's ruling com uhe nus party has lifted the curtain. the unveiling seals so s xi jins rise. hu has seeded oig all powers and that's gives china's next leader a strong mandate. eunice has more for us this morning. it sounds like a pretty signature consolidation of power under xi. >> definitely is a consolidation of power. he'll get a very strong mandate as you had mentioned to run this country the way that he wants. he gets the three top titles, the most powerful are party chief, president as well as military commander
scheduled to hit the economy for this current fiscal year taking us all the way to september of next year. as for what the president's position will be, we're still waiting for word from the president. other democrats have been discussing where they are on this, the president won reelection, they expanded their majority in the senate, and therefore voters have token, they want tax increases on wealthier americans to pay for other priorities and reduce the deficit. hearing from some republicans as well, john boehner scheduled to speak a short while from now. he says he's open to discussing. you're seeing these decisions, is not unlike what we saw before the election. talking an overall rewrite of the tax system, democrats looking for tax rate increases on families earning more than $250,000 per year. back to you. connell: fox news contributor and author of our favorite titled book. i guess we can modify it to say with what happened later today. do you think he goes to the middle or dig into the left? >> there were so many bizarre things that happened over the tuesday night election results
credit rating on u.s. debt. right now moody's has a negative outlook on the u.s. economy. worries about a fiscal freefall, kept wall street stocks in check: the dow and nasdaq fell a fraction, while the s&p was up a fraction. american businesses are not only concerned about the fiscal showdown in washington, but also about corporate earnings. nearly all of the s&p 500 firms have reported numbers, and profit growth is the slowest since the recession in 2009. and the majority of firms are also reporting disappointing revenues. here's erika miller with a look back at the quarter, and a look ahead. >> reporter: earnings season is drawing to a close. and for many firms it's good riddance. nearly all of the s&p 500 have reported quarterly numbers, and according to s&p capital i.q., profits are up a measly 2%. thomson reuters and factset crunch the numbers slightly differently, and believe profits are actually down. the bigger concern is revenue growth. s&p has the most optimistic analysis with a 0.6% gain. the other two firms see negative growth. firms face an almost universal problem: a slow
cliff, raising taxes in a slow economy. all of it is coming home to roost. >> mike, we had the president come out saying that he will veto any legislation that allows the tax cuts to be extended for the highest earners. is that what poured water on the rally? >> it didn't hurt. obviously, there was no breakthrough. i think the one thing to take away from today's action was the fever kind of broke a little bit in terms of the market really being hyper actively responding to every little knnuance. i think the market would have liked to see a little more affirmative suggestions that were going to come closer together. i don't think it was something that alarmed everybody, considering the height of panic that built up over a couple days. >> all right, guys. thanks so much. appreciate that. it has been a week to forget for the bulls. tough week after the election. courtney reagan wraps up the big losers and mixes in a few silver linings on the upside. court, over to you. i don't hear her. okay. courtney reagan, obviously her microphone, we're going to fix that in a moment and get back to her.
. everyone is going to play nice if we want the economy to grow. >> what about dividend payers? these companies are getting crushed as people speculate where dividend taxes go. jim, are you a buyer? you want to stay away? what do you want to do with dividend payers? >> until i get some clarity on the fiscal cliff, i would probably stay away from anything that would be a tax-related issue. the dividend payers would be high on the list. as far as what to do, i would agree with joe. gold was the story before the election. the argument was we were electing a president and a monetary policy. we elected the president that's going to continue the easy monetary policy. gold has been one of the few things that's been working through the election. i suspect it will continue to. >> all right. jeff, in the energy complex itself, what's the best opportunity right now? is it crude? is it heating oil? is it natural gas? what are you looking at? >> if you're a weather player, you certainly want to buy the heating oil. the way we've seen the last couple of days here, the weather has been very u
and longer-run fiscal issues. i think if we do that, the economy can boom. >> i'm hoping to use a phrase i've heard recently, that everybody can rise above the politics that we see here all the time. >> if the guys in washington don't get together and actually act like grown-ups, we're in big trouble. >>> hi, everybody. time to rise above and keep the country from enduring a self-inflicted crisis. we're here today. i'm maria bartiromo coming to you live from the schwab impact conference in chicago. welcome to the "closing bell." we enter the final stretch for the markets today. everybody here is focused on the fiscal cliff. coming up, i will talk to allen simpson and erskine bowles in an interview you cannot afford to miss. hope you join us 4:00 p.m. eastern. the co-founders of the fix the debt campaign, which many corporate leaders are backing. they'll tell us how they think washington can come together and reach a deal, bill. >> sure would be great to figure that out. maria, looking forward to that. i'm bill griffeth here at the new york stock exchange. markets continue to feel the sting
-product of growing our economy, energized by a simpler cleaner fairer tax code with fewer loopholes and lower rates for all. >> reporter: democratic senate leader harry reid also says he wants a quick fix for the fiscal cliff. but, he was clearly feeling empowered by a strong showing in the election. >> i want to work together, but i want everyone to understand you can't push us around. >> reporter: and raising taxes on the well-off is clearly a top priority. >> all the exit polling, all the polling we've done, the vast majority of the american people support that, including rich people. >> reporter: many republicans see the election as more of a return to the status quo and that will make negotiations on the fiscal cliff tricky. >> the discussion around taxes will have to be calibrated in a way that recognizes that there are certain red lines for both parties that probably will not be crossed. >> reporter: now that the election is over, policy makers are likely to feel more pressure to reach an agreement to ease the fiscal cliff. the public clearly does not like the automatic spending cuts that ar
, for the foreseeable future, you're waiting for some sort of sign the economy -- the growth in the economy and reflation effort is going to take hold, is that it? >> the market has to believe it's going to be enough, by way of context. the fall from apple from peak to where it is now is $100 billion of market cap. $40 billion a month. the numbers are so billing and yet the federal reserve talks in billions when we live in a world of trillions. >> so what's the -- what's the best plan here, then, toward year-end? we have the clarity of the president in the white house but we have no clarity in terms of these taxes. i'm just wondering how many of you actually think we will see a compromise or are both sides going to continue to dig in, creating a real inaction for the next couple of years? >> michael first? >> i think have you to separate a grand bargain from extending out the deadline. our belief is very likely you'll get some kind of downpayment past this year and an extension of timing until the middle of next year. one thing we would encourage investors to remember is how much pressure i
. the first numbers are out now on how sandy is already taking a bite out of the economy. >>> and, we move to real estate. how real is the recovery? ben bernanke set to speak about housing and mortgages in just a few minutes and what he says could move the markets. >>> but first, let's head out to chicago where sue can be found at a major investor summit in the windy city. sue? >> indeed, i am in the beautiful windy city, ty. this is the schwab impact conference. welcome to the biggest convention center in the united states and it is chock-full with some of the top investment advisors out there. we're going to be talking to a number of them. we have a terrific hour planned here from chicago. we're going to talk to the five-star rated portfolio fund manager of the permanent portfolio fund, michael kuggino. he has $17 billion under management. we'll find out how he sleeps at night in this volatile market. >>> plus, liz ann sonders, schwab's chief investment strategist is with us. she's fired up about the fiscal cliff. she says congress has to rise above -- she's wearing one of our pins, ty a
sector is still on a capital strike. if barack obama wants strong growth in the u.s. economy, he's going to have to extend his hand to the private interests that he vilified so much of the last two years to get reelected. dagen: more spending temecula of the federal reserve sitting ready and waiting make in our money and spend it. >> federal spending for the last 25 years has been to a percentage gdp. brock obama wanted to be for 23 percent of about 24%. the only way you can afford to do that if he extracts revenue out of the private sector. there is a real dilemma at the center of what he wants to do, and that is why i think we will be looking at gridlock for a little while. connell: okay. dagen: as always, be well. connell: we talked about the dow today being down a little bit, but nothing like yesterday. traders are calling it an obama sell-off, but the thing is, the polls consistently showing the president and the lead going into the election. why wasn't all that price did? brian jacobson. what do you think? >> i think it was partially priced in. it was basically a dead heat going in
to do after yesterday. we'll talk more about the economy in a minute with david rosenburg. it was pretty clear yesterday that depending on how you wanted to spin it, could you say how do you do for another four years. i don't remember any euro news in the last six months no matter how bad it was, we didn't get it free handle. so there's more to it than just europe. >> it was the fiscal cliff, but also the financials got hit so hard. if it had been romney, the cliff would be less of a deal because they would stepped all of them. so now we know and we lettered it first hand yesterday. boehner said we're open to tax increase, but part of a bigger plan that involves spending cuts. dove did a bungee -- >> worst thing i ever did. >> but it goes down and then right back up. >> the worst part is you feel like you're connected on something, but don't. it's a free fall until the very he said and then he start to feel like i'm connected to something and it throws being back into the air. >> my question is let's say that it's not a bungee, let's say it's a rope. so you jump and then you -- that woul
in this crummy economy. starting off in the green. let's go to the full the new york stock exchange, cisco had been helping keep us green, but not so much now. nicole: the dow down three quarters of 1% packing up the losses we saw last week, getting any economic news. the stock market struggling overall, but still the geopolitical concerns. the president coming out to talk about taxes and such. still worried about the fiscal cliff to name a few. the nasdaq down half a percent actually slipped into correction territory off of the highs in september. and let's take a look bucking the trend, other names have been hit hard, for example. here's a look at cisco systems coming out with the quarterly numbers, there is some good news there. lori: appreciate it. melissa: president obama's first news conference since his reelection. the white house and congress will attempt to work together, maybe, to find a compromise. peter barnes is at the white house. what do you think we can expect? >> i think we will hear a lot about petraeus, benghazi, general allen, the sex scandal, fbi, cia. all they have to do
debate and what the economy needs to stay in recovery mode. a setting rich in theater coming just hours after the speaker of the house, boehner, made his case. >> indeed he did, ty. thank you. i'm sue herera, along with my partner tyler mathisen. john harwood and eamon javers are in washington as we countdown to the president's statement in a few minutes. we're hearing that the white house has invited congressional leaders for a meeting at the white house next week on the fiscal cliff. that seems to mean, john, to me anyway, a little bit of progress. what type of tone do you expect, john, the president to take in this next address? >> sue, i expect him to be conciliatory and reaching out to republicans the way john boehner has tried to strike that mode on capitol hill. two different white house specialists just told me the president will walk out here and announce he's invited the bipartisan leadership of congress to the white house next week to begin talks on the fiscal cliff. i have to think there is a possibility that they can really make some headway, if not solve the problem before
to the economy. >> and that is a huge deal. the fact that president bush is still getting blamed for the economy is something that clearly is showing up in those poll numbers. lou: we appreciate it. thank you. great work last night. president obama winning a second term as his party added to its majority in the senate, counting independent democrats could have a caucus of 55 members up from 53. among the most closely watched races, a democrat elizabeth warren beating republican incumbent senator scott brown. and in indiana, the democratic congressman, jim donnelly, defeating richard. in missouri democratic incumbent successfully fought off a challenge by congressman taught a kid who was not able to recover from comments about women's bodies and pregnancies of an absurd nature. well, in virginia democrat tim kane defeated former fellow governor george allen in thh most expensive senate race in the country. more than $82 million spent on the race. in the house republicans retain their majority with at least 2303 seats. the democrats' 192. ten races have yet to be called. the republicans 233 seats
into a difficult first quarter in terms of the economy next year. so this is almost a situation where you can't hope for or root for any outcome. you have to let it play out and assess what its impact on the economy can be. but the risks right now are to the downside. the sad thing is that as we speak, the economy is actually doing pretty well. >> susie: that's good to hear. as you know, a number of very high-profile c.e.o.s are meeting with the president at the white house today, the c.e.o.s from companies like ibm and xerox and general electric. how much sway do you think these c.e.o.s have over the president? >> if he is smart, he'll listen to them. but that is not the constituenconstituency will eled him. the coalition that elected him supports his hard line on taxes as a percentage of the total package, and he has an obligation -- incidentally, i think an ideological belief that he has to go that way, and that's -- i think that raises the odds of a difficult -- a very difficult period here politically. and while he loyc listens to them and went through the theatrics of having met with th
Search Results 0 to 49 of about 111 (some duplicates have been removed)

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